Taseko Mines (TSE:TKO) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Taseko Mines shares rose above their 200-day moving average, reaching C$10.86 before closing at C$10.71, up 2.7% on trading volume of 706,384 shares.
• Analysts remain bullish: four analysts rate the stock a Buy, with a consensus price target of C$14.00 and individual targets of C$14.50 and C$15.00.
• The company reported quarterly revenue of C$330.55 million and earnings of C$0.11 per share, though profitability remained modest with a 1.60% net margin and 2.09% return on equity.

Taseko Mines Ltd. (TSE:TKO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$10.55 and traded as high as C$10.86. Taseko Mines shares last traded at C$10.71, with a volume of 706,384 shares traded.

Wall Street Analysts Forecast Growth

TKO has been the topic of several research reports. National Bank Financial set a C$14.50 price objective on shares of Taseko Mines and gave the stock an "outperform" rating in a research report on Tuesday, October 13th. Jefferies Financial Group set a C$15.00 price objective on shares of Taseko Mines and gave the company a "buy" rating in a research note on Thursday, August 20th. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat, Taseko Mines has a consensus rating of "Buy" and a consensus target price of C$14.00.

Taseko Mines Trading Up 2.7%

The company has a 50 day simple moving average of C$11.98 and a 200 day simple moving average of C$10.55. The stock has a market capitalization of C$3.92 billion, a PE ratio of 357.00 and a beta of 1.79.

Taseko Mines (TSE:TKO - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C$0.11 earnings per share for the quarter. Taseko Mines had a return on equity of 2.09% and a net margin of 1.60%. The company had revenue of C$330.55 million for the quarter. On average, equities research analysts predict that Taseko Mines Ltd. will post 0.28 EPS for the current year.

Taseko Mines Company Profile

Taseko Mines Ltd is a Canadian mining company. It is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada, and the State of Arizona, the United States. The Gibraltar, Aley, New Prosperity, and Harmony properties are located in British Columbia whereas Florence copper is in central Arizona.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.